In 2017, home values increased in San Diego by an average of 6.9%. However, experts projected that growth will slow down in 2018 with a project value increase of 4.1% Renters are going to start looking at the option of buying a home, causing more demand in inventory with very little supply. In 2017, rental appreciation increased by 2.9%. This is going to more than double in 2018 to 6%. With such a huge jump in rental prices and weak income, renters are going to start looking at the option of buying a home, causing more demand in inventory with very little supply.
There is good news for new homebuyers though in 2018.Not only are loan limits increasing, but there are several different programs available, such as down payment assistance programs, self-employed programs, and programs with as little as 10% down with no mortgage insurance.